Indian Equity Indices Decline: The BSE Sensex fell by 151 points (0.18%) to 82,201, and the NSE Nifty dropped by 53 points (0.21%) to 25,145, due to weakness in Reliance Industries and other major stocks.
Reliance Industries’ Performance: Reliance Industries and Tata Motors experienced significant declines, falling over 1%. Reliance’s stock dropped after it announced a 1:1 bonus share issue at its AGM.
Sector Winners: Titan, ITC, Infosys, HCL Tech, and Tata Steel closed higher, providing some support to the market.
Zomato’s Surge: Zomato’s stock rose by 5% after JP Morgan increased its target price from Rs 208 to Rs 340 while maintaining an overweight rating.
US Economic Data Anticipated: Investors are awaiting key US economic data, including jobless claims and nonfarm payrolls, which could influence the Federal Reserve’s interest rate decisions. Current expectations suggest a 45% chance of a 50-basis-point rate cut on September 18.
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